The XIII Forum "Russia-India Business Dialogue 2022" was held in Moscow. Its main theme was "The Integral Partnership between India and Russia in the New World Order".
The event was attended by government and business representatives, Ambassadors, Heads of Federal Agencies, Governors of Russian regions. The Moscow Chamber of Commerce was represented by its Head, Mr.Vladimir Platonov, the Vice President, Mr. Suren Vardanyanm The Chairman of the MCCI Commission on Foreign Economic Cooperation with partners in India, and members of the Chamber - representatives of the capital's business.
Today, despite pressure from Western countries, Russia and India are successfully cooperating in trade and investments. So for, 11 months of the current year, trade turnover between the countries broke all records and reached $27 billion, the lion's share of which comes from Russian exports. The RF managed to become one of India's key partners in the supply of oil, LNG and coal in a short period of time. This was reported by the Ambassador Extraordinary and Plenipotentiary of Russia to India, Mr. Denis Alipov, speaking to the Forum participants from New Delhi in an online conference.
The Russian Ambassador to India emphasized that Russian businessmen are interested in developing bilateral relations, and now it is necessary to transfer this interest to the practical plane. Mr. Alipov suggested that the Heads of regions pay close attention to the Indian market and develop startups in the chemical industry, surgery, industries such as quantum and biotechnology.
In his turn, the Ambassador Extraordinary and Plenipotentiary of the Republic of India to the Russian Federation, Mr. Pawan Kapoor, said that India welcomes the growth of trade turnover with Russia, but would like it to become more balanced.
"I would like to make a suggestion that Russian businessmen should consider India as their main source of work. It is not only about pharmaceuticals, but also about agricultural products, ceramics, and chemical products. If businessmen are willing to convey this message to the stakeholders, it would be a good support for India. We are trying to conduct as much trade as possible in national currencies, and that requires a balanced trade," Mr. Kapoor said. The Indian Ambassador also noted that both countries need to consider new transportation corridors.
Mr. Sergey Cheremin, the Minister of the Moscow City Government and Executive Officer of the Department for External Economic and International Relations of Moscow told about the results of his recent business trip to India: "With our colleagues we discussed the possibility of expanding the presence of Indian high-tech companies, those who cultivate start-ups, create business incubators. There are a lot of such companies in India, they are developing mechanical engineering, manufacturing high-tech products, all of which are in demand in Russia. We discussed the possibility of active participation of automobile companies in the supply of spare parts and components for the Russian automotive industry. We believe that there is a huge potential here, too", - said Mr. Cheremin.
The Minister of the Moscow City Government also drew the attention of his Indian colleagues to the tourism potential of both countries, as tourism is one of the drivers of the economy.
In his speech, the MCCI’s President, Mr. Vladimir Platonov, paid special attention to the need to consolidate the efforts of all Russian business associations for the sake of strengthening cooperation with India. He spoke about the activities undertaken by the MCCI in the context of cooperation with Indian partners and emphasized the use of special Commission on Foreign Economic Cooperation with Indian partners.
It was established by the MCCI and is closely cooperating with the Business Council of Russia-India, as well as with various Indian Chambers of Commerce, the partnership having a long history: a number of the MCCI’s agreements with Indian Chambers of Commerce and Industry Associations were signed back in 1995. Mr. Platonov also stressed the need for a closer open dialogue between the business communities and State structures of the two countries.
All speakers at the forum emphasized the importance of the development of Russian-Indian relations, the great prospects opening up today for cooperation between the economies of the two countries, the need to harmonise practices, procedures and standards, strengthening work on the settlement of accounts in national currencies, counter investments, the balance of foreign trade turnover. Many speakers also noted the need for a more active organization of joint projects not only in the area of industry and trade, but also in creative circles. The importance of preserving cross-cultural communications was also accentuated.
Both Russian and Indian sides expressed a desire to optimize this work and presented plans to develop business missions and Forums to allow business communities and people of the two countries to get to know each other better and create diverse projects.